On August 6th, it was learned from the China Gold Association that China's gold production in the first half of this year was 152.908 tons, a year-on-year decrease of 14.62%; The consumption of gold was 511.412 tons, a year-on-year increase of 1.23%.
From a production perspective, the domestic raw material gold production in the first half of the year was 152.908 tons, a year-on-year decrease of 14.62%; Imported raw materials produced 77.080 tons of gold, a year-on-year increase of 4.62%.
The China Gold Association stated that in the first half of this year, key gold producing provinces carried out large-scale inspections, rectification, and special governance of mine safety. Some mines stopped production for self inspection, which to some extent affected domestic gold production. At the same time, the overseas production capacity of large gold groups has steadily increased, achieving a mineral gold output of 48.098 tons in the first half of the year, a year-on-year increase of 21.43%.
From the consumer side, in the first half of the year, China's gold consumption was 511.412 tons, a year-on-year increase of 1.23%. Among them, 132.133 tons of gold jewelry decreased by 33.88% year-on-year; 339.336 tons of gold bars and coins, a year-on-year increase of 28.42%; Industrial and other gold consumption was 39.943 tons, a year-on-year decrease of 2.9%.
The China Gold Association stated that with the significant fluctuations in gold prices and the implementation of new gold tax regulations, the domestic gold consumption structure continues to differentiate, and gold bars and coins have become popular categories in the market. At the same time, high gold prices have pushed up the cost of gold for industrial enterprises, resulting in a decrease in the amount of gold used in industry.
In the first half of the year, China's gold market exhibited a volume price divergence characterized by a decrease in trading volume and an increase in trading volume. The bilateral trading volume of all gold varieties on the Shanghai Gold Exchange was 32100 tons, a year-on-year decrease of 4.37%; The bilateral transaction volume was 33.14 trillion yuan, a year-on-year increase of 36.75%. The total trading volume of gold futures and options on both sides of the Shanghai Futures Exchange was 117100 tons, a year-on-year decrease of 22.46%; The bilateral transaction volume was 93.15 trillion yuan, a year-on-year increase of 4.80%.
At the end of June 2026, the closing price of Au9999 gold on the Shanghai Gold Exchange was 879.03 yuan per gram, a decrease of 11.21% from the opening price at the beginning of the year. Affected by factors such as the weakening of gold prices, the domestic gold ETF increased its holdings by 28.677 tons in the first half of 2026, a decrease of 66.17% compared to the same period last year. As of the end of June, the domestic gold ETF holdings were 276.529 tons.